Easing of inflation in October indicates that RBI will become less agressive with regard to future interest rate hikes. As India enters the year before the general elections, the Government may also increase pressure on RBI to become more moderate with regard to interest rate hikes. Much of India's inflation is due to supply chain disruptions caused by Covid lockdowns and the higher price of fuel. Higher price of fuel increases the cost of transportation of everything, from vegetables to eggs to other goods. This then gets reflected in the form of higher prices.
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